Overstock plunges 10% after it posts a loss and cuts 250 jobs

Overstock said in a Securities and Exchange Commission filing Monday it has laid off approximately 250 employees, or about 12% of its workforce, so far this year. The company reported a net loss of more than $40 million for the fourth quarter and said that sales fell 1%. Shares of Overstock (OSTK) plunged 10% on the news.

The mere fact that Overstock is still a retailer is frustrating to investors though. The company said in November that it hoped to sell its online retail business by February of this year so it could focus on its tZero security tokens for e-commerce and Medici Ventures, an investing firm that's betting on blockchain, a public digital ledger of transactions.

But Overstock said Monday that it still did not have a buyer for the retail arm. It has hired investment bank Guggenheim Securities to help with a possible transaction.

9:42 a.m. ET, March 18, 2019

Boeing pressures the Dow but broader markets tick higher

Dow member Boeing (BA) declined on more concerns about its 737 Max crisis. US federal prosecutors and the Department of Transportation are probing the development of the 737 Max, The Wall Street Journal reported.

The mixed start to trading comes after US stocks boomed last week. The S&P 500 climbed nearly 3%, while the Nasdaq spiked almost 4%, leaving both indexes at their highest levels since early October.

9:15 a.m. ET, March 18, 2019

S&P 500 will keep climbing, according to Credit Suisse

From CNN Business' Jordan Valinsky

Credit Suisse (CS) just upgraded its S&P 500 target for 2019, according to our Matt Egan:

Jonathan Golub, the chief U.S. equity strategist at Credit Suisse, said risks are "receding" and that's why he predicts a stronger S&P 500:

"More specifically, less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher," he wrote.

The S&P 500 closed at 2,822 on Friday.

8:23 a.m. ET, March 18, 2019

Marriott wants to open 1,700 hotels by 2021

From CNN Business' Jordan Valinsky

Marriott (MAR) has announced a three-year growth plan, which includes 1,700 new hotels and returning as much as $11 billion to shareholders.

The hotelier forecasts revenue per available room to increase by as much as 3% by 2021.

It's opening as many as 295,000 rooms over the next three years, which could eventually generate $700 million in revenue annually from fees.

The company forecasts profits to come in above analyst expectations by 2021, a turnaround from its bleak earnings report from last month when it cautioned about a lower-than-expected 2019 profit.

Lyft's co-founders — CEO Logan Green and president John Zimmer — will hold roughly 50% the votes among shareholders.

7:14 a.m. ET, March 18, 2019

Boeing shares are on the decline

From CNN Business' Jordan Valinsky

Boeing (BA) shares are down more than 3% following a weekend of negative headlines about its 737 Max.

US federal prosecutors and Department of Transportation officials are scrutinizing the development of the 737 Max, which has been grounded following two deadly crashes, according to the Wall Street Journal.